The board of directors exercises authorizations to issue and repurchase C-shares, and converts C-shares to common shares
STOCKHOLM, May 25th, 2018, Moberg Pharma AB (OMX: MOB) announced that the board of directors exercises authorizations to issue and repurchase C-shares, and converts C-shares to common shares, to secure the company’s commitments under incentive programme.
The annual general meeting of Moberg Pharma AB (publ) on 15 May 2018 resolved – for the purpose of ensuring that the company can fulfil its commitments under the long-term incentive programme LTI 2018 resolved by the annual general meeting – to authorize the board of directors to resolve on a directed share issue of no more than 263,000 redeemable- and convertible class C shares.
The general meeting also resolved to authorize the board of directors to resolve on the repurchase of all issued class C shares by an offer directed to all holders of class C shares. Repurchase under this authorization may be made on one or several occasions until the annual general meeting in 2019 and at a price to no less than 100 per cent and no more than 105 per cent of the quotient value of the share (SEK 0.10).
The board of directors resolved to exercise the share issue authorization for the said purpose to issue 263,000 class C shares to Nordea Bank AB. The share issues shall be made at a price corresponding to the quotient value of the share and must be signed in subscribed for during June 2018, with the right of the Board of directors to extend the subscription period.
The board of directors has resolved to exercise the repurchase authorization for the said purpose by repurchasing of all issued class C shares against payment corresponding to 100 per cent of the quotient value of the share, corresponding to SEK 0.10 per share. Repurchase of the class C shares may be effected during June 2018.
The class C shares will, following the repurchase, be converted to common shares to secure the delivery under the incentive programme.
The company currently holds no own common shares or class C shares. After repurchase and conversion of C-shares in accordance with the above, the number of own common shares held will amount to 263,000.
About this information
The information was submitted for publication, through the agency of the contact person set out above, at 4.30 p.m. CET on May 25th, 2018.
For additional information, please contact:
Peter Wolpert, CEO, telephone: +1 908 432 22 03 (US), +46 70 735 71 35, e-mail: peter.wolpert@mobergpharma.se
Anna Ljung, CFO, telephone: +46 707 66 60 30, e-mail: anna.ljung@mobergpharma.se
About Moberg Pharma, www.mobergpharma.com
Moberg Pharma AB (publ.) is a rapidly growing Swedish pharmaceutical company with OTC sales operations in the U.S. and a distributor network in more than 40 countries. The company’s portfolio includes the OTC brands Kerasal®, Kerasal Nail®, New Skin®, Dermoplast®and Domeboro®. Kerasal Nail®(Emtrix®, Zanmira®or Nalox™ in certain markets) is a leading OTC treatment of nail disorders in the U.S., Canada as well as in several markets in EU and Southeast Asia. The company is growing organically as well as through acquisitions. Internal development programs focus on innovative drug delivery of proven compounds and include two assets in late-stage clinical development, MOB-015 (onychomycosis, phase 3 studies ongoing) and BUPI (pain management in oral mucositis, preparations for phase 3 studies ongoing). Moberg Pharma has offices in Stockholm and New Jersey and the company’s shares are listed on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm (OMX: MOB).
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